Australia GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Australia expanded 2.30 percent in the fourth quarter of 2018 over the same quarter of the previous year. GDP Annual Growth Rate in Australia averaged 3.46 percent from 1960 until 2018, reaching an all time high of 9 percent in the first quarter of 1967 and a record low of -3.40 percent in the second quarter of 1983.

GDP Annual Growth Rate in Australia is expected to be 2.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Australia to stand at 2.30 in 12 months time. In the long-term, the Australia GDP Annual Growth Rate is projected to trend around 2.40 percent in 2020, according to our econometric models.

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Australia GDP Annual Growth Rate

Australia's economy is dominated by the service sector (65 percent of total GDP). Yet its economic success in recent years has been based on the mining (13.5 percent of GDP) and agriculture (2 percent of GDP) as the country is a major exporter of commodities. Other sectors include: manufacturing (11 percent) and construction (9.5 percent).
. This page provides - Australia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on May of 2019.